How to Activate the “Spend and Save” Feature on Kuda Bank


Kuda Bank is a virtual Nigerian microfinance bank that allows you to use regular banking solutions at cheaper rates, zero fees, and without the need to ever visit a banking hall.

As a means to inculcate the savings culture in Nigerians, Kuda created the “Spend and Save” feature. This feature is designed to automatically help you save money with each transaction. With this initiative, a certain percentage of the amount spent is deducted and saved on every outgoing transaction carried out on your account. This includes transfers, bill payments, and card transactions.

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Whatever percentage is deducted is set by you, the user. You can make it as high or low as possible. Your Spend and Save savings are stored in your savings wallet and can be withdrawn at any time.

How to activate the Spend and Save on your Kuda Bank account

  • Log in to your Kuda Bank app
  • On the homepage, tap on the ‘Save’ icon and then on the ‘Save Now’ option located at the top right of your screen
kuda bank app save now
  • From the options available, tap on “Spend and Save”.
  • Turn on the toggle located at the top right of your screen 
spend and save kuda bank
  • Tap on the pencil icon beneath the “Percentage To Save” section, 
  • Set a percentage you want to save when you spend from your account and tap on the checkmark.

From here on, the chosen percentage of the amount of an outgoing transaction will be deducted and transferred to your savings wallet.

You can also see your total savings on the ‘Save’ section of your dashboard along with all the incoming savings transactions.

How to withdraw from my Spend and Save wallet

To withdraw your savings to your main account known as ‘Spend’, here’s what to do;

  • On your dashboard, tap on ‘Save
  • Tap on the ‘Saved’ section and then ‘Withdraw
  • Enter the amount you’d want to withdraw from your savings account and tap on ‘Withdraw‘ located at the top right of your screen.

Your savings will be automatically credited to your main account.

Unlike other savings platforms, there are no set withdrawal days so you can withdraw at any time without additional fees or charges. You can also edit the savings percentage whenever you need to. 

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So what do you think? Would you be open to trying out this savings method? Let us know in the comment section below.


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One thought on “How to Activate the “Spend and Save” Feature on Kuda Bank

  1. I did the same thing..kuda have not credited me…I’m beginning to start have trust issues with you guys…you guys debited me 15k , you haven’t reversed that since a week now and same thing with this spend and save

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